China Green Agriculture Files 2024 Annual Report

TL;DR

CGA filed its 2024 10-K. All systems go (for now).

AI Summary

China Green Agriculture, Inc. filed its annual report (10-K) for the fiscal year ended June 30, 2024. The company, formerly known as Discovery Technologies Inc., is incorporated in Nevada and operates in the agriculture chemicals sector. Its principal executive offices are located in Xian, Shaanxi Province, China.

Why It Matters

This filing provides a comprehensive overview of China Green Agriculture's financial performance and business operations for the past fiscal year, which is crucial for investors and stakeholders to assess the company's current standing and future prospects.

Risk Assessment

Risk Level: medium — As a Chinese company listed in the US, it faces geopolitical risks and regulatory scrutiny, alongside typical business risks.

Key Numbers

• 001-34260 — SEC File Number (Identifies the company's filing with the SEC.)
• 36-3526027 — IRS Number (Company's Employer Identification Number.)

Key Players & Entities

• China Green Agriculture, Inc. (company) — Registrant
• Discovery Technologies Inc. (company) — Former company name
• June 30, 2024 (date) — Fiscal year end
• 20241015 (date) — Filing date
• Nevada (jurisdiction) — State of incorporation
• Xian, Shaanxi Province (location) — Business address city and province

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 Par Value Per Share NYSE Securities r
• $3.03 — er 29, 2023, based on the closing price $3.03 of the Company's common stock on such d
• $85,144,156 — ts. As our core business, we generated $85,144,156 and $114,275,845 in fertilizer producti
• $114,275,845 — business, we generated $85,144,156 and $114,275,845 in fertilizer production, or 88.8% and
• $95,845,788 — evenues from continuing operations were $95,845,788 and $124,140,355, respectively; our net
• $124,140,355 — tinuing operations were $95,845,788 and $124,140,355, respectively; our net loss for these p
• $20,519,255 — ultaneously with a private placement of $20,519,255 on December 26, 2007. Green New Jersey

Filing Documents

• ea0215297-10k_chinagreen.htm (10-K) — 1508KB
• ea021529701ex4-3_china.htm (EX-4.3) — 8KB
• ea021529701ex21-1_china.htm (EX-21.1) — 5KB
• ea021529701ex31-1_china.htm (EX-31.1) — 7KB
• ea021529701ex31-2_china.htm (EX-31.2) — 7KB
• ea021529701ex31-3_china.htm (EX-31.3) — 7KB
• ea021529701ex32-1_china.htm (EX-32.1) — 4KB
• ea021529701ex32-2_china.htm (EX-32.2) — 4KB
• ea021529701ex32-3_china.htm (EX-32.3) — 4KB
• ea021529701ex97-1_china.htm (EX-97.1) — 33KB
• image_001.jpg (GRAPHIC) — 31KB
• image_002.jpg (GRAPHIC) — 32KB
• image_003.jpg (GRAPHIC) — 84KB
• 0001213900-24-087818.txt ( ) — 7778KB
• cga-20240630.xsd (EX-101.SCH) — 67KB
• cga-20240630_cal.xml (EX-101.CAL) — 64KB
• cga-20240630_def.xml (EX-101.DEF) — 303KB
• cga-20240630_lab.xml (EX-101.LAB) — 531KB
• cga-20240630_pre.xml (EX-101.PRE) — 319KB
• ea0215297-10k_chinagreen_htm.xml (XML) — 767KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 19 Item 1B. Unresolved Staff Comments 40 Item 2.

Properties

Properties 40 Item 3.

Legal Proceedings

Legal Proceedings 42 Item 4. Mine Safety Disclosures 42 PART II Item 5. Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 43 Item 6. [Reserved] 44 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 45 Item 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 53 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 54 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 54 Item 9A.

Controls and Procedures

Controls and Procedures 55 Item 9B. Other Information 55 Item 9C. Disclosure Regarding Foreign Jurisdictions That Prevents Inspections 55 PART III Item 10. Directors, Executive Officers and Corporate Governance 56 Item 11.

Executive Compensation

Executive Compensation 60 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholders Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholders Matters 67 Item 13. Certain Relationships and Related Transactions, and Director Independence 68 Item 14. Principal Accountant Fees and Services 70 PART IV Item 15. Exhibits, Financial Statement Schedules 71 Item 16. Form 10-K Summary 71

SIGNATURES

SIGNATURES 72 EXHIBIT INDEX 73

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA F-1 i PART I

Business

Item 1. Business China Green Agriculture, Inc., a Nevada corporation (we" or "the Company"), is primarily engaged in the research, development, production, and sale of various types of fertilizers and agricultural products through its wholly owned subsidiaries, Shaanxi TechTeam Jinong Humic Acid Product Co., Ltd. ("Jinong"), and Beijing Gufeng Chemical Products Co., Ltd., ("Gufeng") in the People's Republic of China ("PRC"), all of which are engaged in fertilizer production. Also, Tianjuyuan Fertilizer Co. Ltd ("Tianjuyuan") is a subsidiary of Gufeng. In addition, we operate through variable interest entity (the "VIE"), Xi'an Hu County Yuxing Agriculture Technology Development Co., Ltd. ("Yuxing"), which is engaged in agricultural products production in PRC. Our primary business is fertilizer products, specifically humic acid-based compound fertilizer produced through Jinong; and compound fertilizer, blended fertilizer, organic compound fertilizer, slow-release fertilizers, highly concentrated water-soluble fertilizers, and mixed organic-inorganic compound fertilizer produced through Gufeng. In Yuxing, we develop and produce agricultural products such as top-grade fruits, vegetables, flowers and colored seedlings. Besides agriculture, since March 2023, we have started to purchase digital assets mining machines and established Antaeus Tech Inc. ("Antaeus") in the State of Delaware to mine digital assets, specifically Bitcoin, in the State of Texas. Through Antaeus, we produce or "mine" digital assets Bitcoin with a focus on the blockchain ecosystem and the generation of digital assets. As our core business, we generated $85,144,156 and $114,275,845 in fertilizer production, or 88.8% and 92.1% of our total revenues (excluding discontinued operations) for the years ended June 30, 2024 and 2023, respectively. Our total annual production capacity was 555,000 metric tons as of June 30, 2024. As of June 30, 2024, we sold our products through a network of 935 regional

View Full Filing

View this 10-K filing on SEC EDGAR